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Technical Analysis
Daily Market Analysis By FXOpen
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[QUOTE="Resolve, post: 200896, member: 29339"] [B][SIZE=5]EUR/USD and EUR/JPY: Euro Remains At Risk[/SIZE][/B] [img]https://i.postimg.cc/QMNsD15b/Euro-EUR-2x.jpg[/img] [B][I]EUR/USD failed to recover and declined below the 1.1620 support. EUR/JPY is facing a major resistance near the 132.50 and 132.65 levels.[/I] [SIZE=3]Important Takeaways for EUR/USD and EUR/JPY[/SIZE][/B] [LIST] [*] The Euro gained bearish momentum below 1.1620 and 1.1600. [*] There was a break below an ascending channel with support near 1.1600 on the hourly chart. [*] EUR/JPY is attempting a recovery wave above the 132.30 resistance level. [*] There is a key bearish trend line forming with resistance near 132.65 on the hourly chart. [/LIST] [B][SIZE=3]EUR/USD Technical Analysis[/SIZE][/B] The Euro started another decline after it struggled to clear the 1.1665 resistance against the US Dollar. The EUR/USD pair broke the 1.1620 support zone to move into a bearish zone. The pair even traded below the 1.1600 support and settled below the 50 hourly simple moving average. A low was formed near 1.1585 on FXOpen and the pair is now correcting losses. It is currently facing resistance near the 1.1600 level. [B]Read Full on FXOpen Company Blog...[/B] [/QUOTE]
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